PJM: Ohio’s nuclear and coal subsidy bill likely to cost more than forecast

first_img FacebookTwitterLinkedInEmailPrint分享Energy News Network:A bill to subsidize FirstEnergy Solutions’ two Ohio nuclear plants could cost customers even more than the hundreds of millions of dollars in direct charges proposed to prop up those plus two older coal plants.A new analysis from grid operator PJM concludes that keeping FirstEnergy’s nuclear plants open could also cost ratepayers as much as $16 million a year in lost savings by discouraging cheaper gas generation from coming online.House Bill 6 passed in the Ohio House of Representatives by a vote of 53-43 on May 29. Under the current version, all retail consumers in the state would pay 50 cents per month for the first year and then $1 per month for the next six years to subsidize FirstEnergy Solutions’ Perry and Davis-Besse nuclear power plants. FirstEnergy Solutions and other FirstEnergy generation subsidiaries are currently in bankruptcy. The bill would also subsidize 1950s-era coal plants and gut Ohio’s clean energy standards.PJM’s analysis contradicts an earlier statement by FirstEnergy Solutions Vice President David Griffing, who claimed that closing the nuclear plants would cost Ohioans an average of $35 per year between 2022 and 2029. Ohio Consumers’ Counsel Bruce Weston responded by asking PJM for a fact check on the projected effects on wholesale and retail electric prices if the two Ohio nuclear plants close.Yet the PJM analysis may still underestimate costs to consumers. “While useful, the analysis looks only at the energy market, which is an important shortcoming,” said Dan Sawmiller, Ohio energy policy director at the Natural Resources Defense Council. PJM’s report said that it didn’t consider impacts on longer-term capacity markets because of time constraints.Ohio Public Utilities Commission Chair Sam Randazzo also testified Wednesday before the Ohio Senate committee. By his estimate, the annual out-of-pocket costs to ratepayers are slightly more than a third of a billion dollars. Before his appointment to the commission this year, Randazzo had long represented Industrial Energy Users-Ohio, which has consistently opposed the state’s clean energy standards.More: Costs of FirstEnergy nuclear bailout bill could exceed out-of-pocket subsidies PJM: Ohio’s nuclear and coal subsidy bill likely to cost more than forecastlast_img read more

Evolving payments

first_imgPayment trends are tracked, analyzed, scrutinized and hypothesized over and over.  We have always paid attention to payments and how they are processed, completed, etc.  But, never as much as over the last two decades. This is mainly due to the rapid number of changes and advancements made in the payments space.  Consider that before the mid-1950’s, the only way to make a payment in the United States was via cash/coin or personal check.  Then, in 1950 the first credit card was introduced in the U.S. Nearly twenty years later ACH standardized the process of automated credit and debits. Paving the way for direct deposit and automatic withdrawal.  In 1969 the first domestic ATM was introduced in New York. And debit cards were introduced shortly after, in the early 1970s.  Why were all of these new payment methods created? Convenience and speed.  The ability to write a check meant not having to carry too much cash around and reduced the amount of cash and coin retailers needed to keep on hand.  The creation of the ATM gave account owners the ability to access cash at times when their financial institution’s offices were closed. ACH meant not having to spend time taking a paper check to your financial institution to make a deposit, only for it to be truly available in your account five to seven days later.  In the time since the 1970s we watched and analyzed the decline in check payments as debit card payments continued a steady rise.  And for about thirty years we held the course. Nothing changed. Sure, checks got prettier. You could get Snoopy or the American Flag printed on your checks instead of the old parchment paper look.  But, not much changed.  In 2003, the U.S. Congress enacted the Check 21 Act.  This allowed for a digital copy or printed copy of a check to be used as a legal substitute to speed up check payment processing.  At this time PayPal was coming into its own and beginning its significant growth in the online retail payment market. Then in 2007, the first iPhone was introduced.  Since 2007, thousands of different payment companies have been created to capitalize on the burgeoning mobile payment marketplace.  In 2018, debit card payments edged out cash payments for the lead in U.S. payment types.  Why debit? Well, most of your mobile payment apps are using your debit card or checking account information for payment processing.  So, debit cards and ACH are benefitting from the mobile payment space as much as the mobile providers are themselves.  What’s next for payments?  You won’t have to wait long to find out.  In the time it took to read this article, three new payment start-ups were created in hopes of starting a new trend.  Blockchain has the potential for disrupting the established networks of ACH and debit payment. But, how will that ultimately affect your institution?  Or more importantly, how will that affect your ability to serve your account holders? I guess only time will tell. But, based on the last fifteen years of advancement in payments, you may not want to blink.  ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Joe Woods Joe Woods, CUDE is a 15-year credit union veteran.  He has spent time with Corporate One FCU, Liberty Enterprises, co-founded Legacy Member Services and was part of the senior management … Web: www.dolphindebit.com Detailslast_img read more

Building a digital strategy for post-COVID debt recovery

first_img continue reading » As the COVID-19 pandemic continues, some credit union relief and government support programs are due to expire – and many Americans are still struggling financially. While these short-term programs have helped, the drastic disruptions in employment and member behaviors over the last several months are creating major, lasting changes for credit unions. As members look for financial solutions and alternatives while staying safe, two of the biggest shifts are increasing call volume and website traffic, prompting credit unions to evaluate and improve their digital capabilities to meet future collections and recovery needs.Credit unions are no strangers to helping members through difficult times. However, the impacts of the pandemic are widespread. The sheer volume of members faced with short- and long-term unemployment is daunting, and collection leaders must realistically re-forecast delinquencies and potential losses in a world with many unknowns. How many jobs will come back after temporary layoffs? How many will be affected indefinitely due to employers’ inability to survive? As these questions go unanswered, credit unions will need to focus on being agile to respond to economic uncertainties.TransUnion predicts increases in collections and delinquency volumes through September. As current financial relief programs sunset, “lenders are going to have to see who can resume payments, who needs refinancing or modifications, and who can’t pay,” said Liz Pagel, senior vice president and Consumer Lending business leader at TransUnion, in a recent article on TheFinancialBrand.com.Improving Digital Capabilities for Better Collection EfficienciesTo effectively address and plan for collection and recovery challenges, credit unions will need to strike a balance between using human interaction and artificial technologies to carry out member services – understanding and adapting to what members want and are willing to do remotely. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

HOW Festival: Despite research, we still don’t understand the way Generation Z makes decisions

first_imgDisposable packaging of hotel cosmetics is replaced by dispensers With the introductory sentence “Which is a vacation without pictures you can share”Lopatny presented the first Croatian Instagram hotel campaign where guests are rewarded for posting their pictures at seven selected hotel locations. Some of them were influencers in whom Lopatny sees added value for the recognition of the hotel brand, while Šumiga pointed out that influencers should be selected from targeted target groups, giving the example of wrong selection of influencers with poor followers to promote luxury resorts. micro influencer. That “personalized cosmetics will be a trend in the future” was concluded at the panel on trends in hotel cosmetics in 2020, where they discussed Ivona Begušić from The Pucić Palace Hotel in Dubrovnik and Nina Brouwers from Rituals Cosmetics in Amsterdam. More than 70 percent of those present in the audience supported dispensers as a better solution for packaging hotel cosmetics than small disposable packages in the survey. Smart hotel without reception and personal concierge access At the panel, Šumiga reminded the audience that likes on social networks for sale no longer mean anything and that one should be consistent in messages to guests, and every marketing activity should be measured, otherwise we are just a “person with opinions”. In the end, he highlighted a sore point of many destinations he had experienced himself; the slowness of wi-fi which deters guests from posting on social media; “If we increase the speed of wi-fi, we will get brand ambassadors among the guests without much effort”, He said. We will find brand ambassadors among the guests if we increase the speed of wifi On the final panel she moderated Marina Franolić from Beach Events, two different forms of hotel communication with the guest are opposed.   “The biggest danger on social networks are the new generations. They create their own content and their own closed digital ecosystems. Despite research, we still don’t understand how they make decisions. “, He said Dalibor Šumiga from PromoSapiens on the final day of the third edition of HOW. He cited the example of memes in the closed WhatsApp group as the main source of information for Generation Z, ie all those born after 1995, and a great challenge for marketing agencies in the future. Hotel Operations Weekend ended in Poreč yesterday – the first festival in Europe on the topic of hotel operations. This year, the festival gathered over 50 speakers in 20 panel discussions and presentations at which the participants were introduced to the latest world trends in hotel operations.  Novicov also mentioned moving away from Google ads towards more effective marketing methods. When asked by Prevolšek, he gave an example of a bad campaign where the author speaks about himself and does not offer a call to action, while a great campaign has a purpose, great content and supporting context behind it. “It’s never about the product or the hotel, but about the goal of coming to the hotel, why we’re doing something. We need to build an emotional connection with the guests and share our passion”, He said. RELATED NEWS: Begušić concluded that there must be other solutions for small hotels because cosmetic gifts create memories for guests. Brouwers pointed out that trends indicate the importance of organic and ecological solutions, the use of gray, white and beige tones and increased attention to the general well-being of the guest in the form of personalized cosmetics, in-room yoga mats, yoga videos and the like. Given that 73% of tourists watch accommodation social networks before booking, the first panel is “Sales and marketing: Engage your guests – let them be your ambassadors / Social networks: do we value them enough?” aroused great interest and filled the hotel hall. The panel was moderated Denis Prevolšek, regional director of Valamar Riviera, and together with Šumiga they participated Alexander Novicov from the IQD agency in London and Maja Lena Lopatny from HTP Korcula.  The last panel ended another edition of the famous Festival of Hotel Operations in Poreč, which gathered over 570 participants and thus once again confirmed the status of the leading regional conference of hoteliers.  Peter Palitz, CEO of QuiHotel in Budapest, presented the first “smart” hotel in Europe, which with the help of one application and nine employees runs a hotel with 40 rooms. “We communicate with guests before, during and after their stay. We have a virtual receptionist for every channel, Viber, WhatssApp, Messenger”Said Palitz, who noted that the younger generations prefer writing to face-to-face communication even though they are then more courageous in asking tricky questions. “The best proof that you are doing a good job is when a guest leaves a comment on social media with your name or when they contact you before their next stay. Personalization is the key to everything from interaction through communication channels”, she pointed out Sandra Grčić, head of the Valamar Experience Concierge program whose Concierge employees are available to guests at the info desk, but also in the breakfast room. “We have digital pilot projects that will help us respond more quickly to the needs of the guest, but it will all go through a personalized approach. ”, she concluded. The focus of the second day’s program was topics such as social networks, the quality of wi-fi in hotels, new trends in hotel households, and communication and emotional connection with guests and creative concepts in the food and beverage departments. HOW FESTIVAL: BY REDUCING PRICES AND DISCOUNTS, THE VALUE OF ITS PRODUCTS DECREASESlast_img read more

S.Korea’s Celltrion to begin commercial production of COVID-19 antibody drug

first_imgSouth Korea’s Celltrion Inc will begin commercial production of its experimental treatment for COVID-19 this month, it said on Tuesday, as it pushes ahead with clinical trials of the antibody drug.The company said it planned to make a request soon to regulators for emergency use authorization of the drug, but that it would start mass production – likely to amount to around 1 million doses – before receiving that approval.The treatment became the country’s first COVID-19 antibody drug to be tested on humans after receiving regulatory approval in July for clinical trials. “We have confirmed the safety of the antiviral antibody drug in the process of the local Phase I clinical trial,” Kwon Ki-sung, head of Celltrion’s R&D unit, told Reuters.Celltrion completed a Phase I trial on 32 volunteers in the country and is enrolling an additional nine participants for another Phase I study before moving on to later stage trials, for which regulatory reviews are already underway.The company is separately conducting overseas human trials of its treatment in the United Kingdom, which will be followed by global second and third stage trials in patients with mild and moderate symptoms.Shares of Celltrion surged as much as 5.6% on Tuesday, while the broader KOSPI gained 0.7%.Other companies developing potential COVID-19 treatments include Eli Lilly and Co, Regeneron Pharmaceuticals Inc and AbbVie. Topics :last_img read more

Compromise Budget: Government That Works

first_imgLike Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf December 09, 2015 By: J.J. Abbott, Deputy Press Secretary Compromise Budget: Government That Workscenter_img Government That Works,  The Blog In bipartisan fashion, the Pennsylvania Senate overwhelmingly passed a compromise budget based on the agreed-to framework established weeks ago by the Governor and legislative leaders. In addition to historic investments in our schools and the first step toward the restoration of the cuts made to human services programs, this budget enhances the governor’s mission to create a government that works for all Pennsylvanians.This compromise budget invests in important programs aimed at solving some of Pennsylvania’s biggest crises and expanding some of the commonwealth’s most successful programs: increasing funding to combat the heroin epidemic, investing in workforce development programs, funding four new cadet classes for the Pennsylvanian State Police, increasing access to food security for needy families, and protecting Pennsylvanians’ air and water.Attacking the Heroin EpidemicThe compromise budget includes an additional $9 million in funding toward efforts to combat the heroin epidemic spread across three agencies. Since his inauguration, Governor Wolf has worked with his administration to provide real solutions not only to save lives but also to help addicted individuals and their families get the treatment they need to live long, productive lives.Such actions taken by the Wolf Administration include the development of the ABC-MAP prescription drug monitoring program which can finally be implemented upon passage of the budget, the creation of the interagency Heroin Task Force, the support for the use of naloxone at schools across the commonwealth, and stocking all Pennsylvania State Police cars and Capitol Police officers with the naloxone drug. Since equipping State Police cars with naloxone, over 300 lives have been saved with this drug. Further, at the Governor’s request, Physician General Dr. Rachel Levine signed a standing-order allowing any Pennsylvanian to obtain this life-saving drug.Investing in WorkersThe budget increases funding for Department of Labor and Industry programs totaling nearly $11 million, including $4 million for increased training initiatives; $5 million to leverage an additional $18.5 million in federal funds for vocational rehabilitation and assistance; and $400,000 to expand services at centers for independent living. This infusion of state dollars will help Pennsylvania significantly strengthen and expand these vital programs and partnerships with higher education and the private sector.Making Pennsylvania SaferThe compromise budget increases funding for the Pennsylvania State Police by nearly $25 million to fund four new cadet classes and increase complement to the highest level in commonwealth history. This will increase the strength of Pennsylvania’s primary law enforcement and public safety agency despite expected retirements and turnover.Strengthening Food SecurityThe budget includes an increase in the State Food Purchase Program of $3.4 million, providing additional funding for local food banks, to ensure the most vulnerable of Pennsylvania’s families can find food security in their time of need.Protecting Air and WaterThis compromise increases funding for Department of Environmental Protection program appropriations by more than $8 million, including a nearly $5 million increase to protect Pennsylvanians’ air and water quality. SHARE Email Facebook Twitterlast_img read more

Bangladesh Takes Over Another Batch of Damen Dredgers

first_imgFollowing recent dredger deliveries in Bangladesh, and successfully organised Dredging Seminar last month in Dhaka, Damen has again delivered multiple dredgers from available stock.According to Regional Sales Director, Rabien Bahadoer, Damen has again confirmed its long-term commitment to Bangladesh by delivering quality dredgers with a proven design from ready stock.“This will swiftly help our customers to start their dredging job in supporting the riverine country.” Mr Bahadoer added “Our dedicated Service Team has overseen a very fast handover. This August delivery comes very soon after our well received Dredging Seminar in July. The dredgers include various optional items, such as production meters, spud carriage systems and spare parts. A unique achievement, and we expect that there is more to come.”Damen has had a presence in Bangladesh since the 1970s. There are quite a number of Damen vessels in operation in the country from that time of which some are still in function.last_img read more

GeoSea Nets Moray OWF East Substructures EPCI Deal

first_imgGeoSea has entered into an  engineering, procurement, construction and installation (EPCI) contract with the Moray Offshore Windfarm East (MOWE).The contract covers EPCI of around 100 wind turbine foundations and 3 offshore substation platform foundations, and the transport and installation of 3 offshore substation platforms for the wind farm.The contract award is subject to financial close which is expected to take place in the second half of 2018, GeoSea said.Moray Offshore Windfarm East is a joint venture company owned by EDP Renewables (77 %) and ENGIE (23 %).The project was recently awarded a £57.50/MWhr contract for Difference (CfD) by the UK Government.Jan Klaassen, business unit manager Offshore Renewables of Geosea: “Together with Ramboll, GeoSea has designed a jacket foundation concept integrating the challenges of the site, however optimized for fabrication and installation. The supply chain of approximately 100 steel jacket foundations and corresponding steel piles will be lined up the coming months. Moray East and GeoSea will pay high attention to maximize local (UK) content for the different types of services and suppliers, as far as reasonably possible.”Oscar Diaz, project director of Moray East: “Our close work and co-operation with suppliers like GeoSea has been vital to being able to develop a project which is capable of delivering power at less than half the price of projects under construction today. The extensive works within this package mean that the announcement of GeoSea represents major progress to project delivery. This work package can bring significant opportunities to the economy, and our ongoing work with Geosea will enable those opportunities to be optimized.”last_img read more

November Indiana Employment Report

first_imgStatewide—Indiana’s unemployment rate stands at 3.2 percent for November and remains lower than the national rate of 3.5 percent. The monthly unemployment rate is a U.S. Bureau of Labor Statistics indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.Indiana’s labor force had a net increase of 346 over the previous month. This was a result of an increase of 308 unemployed residents and an increase of 38 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.38 million, and the state’s 64.4 percent labor force participation rate remains above the national rate of 63.2 percent.last_img read more

Fernandes pens new Sporting CP deal

first_imgRelatedPosts Ighalo: My best moment as ‘Red Devil’ EPL: Crystal Palace stun sloppy Man U EPL: Red Devils attack Palace Bruno Fernandes has signed a new deal with Sporting CP.Fernandes has dealt Manchester United and Tottenham a blow by extending his contract with Sporting.The new contract sees his buyout clause rise from £65 million to £85 million.Fernandes expressed his delight at putting pen to paper on a contract extension to 2023.“It’s a pride for me and a recognition of my work; it’s a sign that I’m doing things well,” he said.“I have been trying my best to do what is best for the club. It is for what I did on the pitch, but also showed that I liked Sporting CP and took pride in representing the club I represent.“For me it is, and always will be, a privilege to be here and be able to wear the Sporting CP jersey.“You can expect more and better. I promise the same delivery and dedication so we can have more moments of glory as we had last season.”Tags: Bruno FernandesManchester UnitedSporting CPlast_img read more

Older Posts »